FinmaxFX review and test – Is it a scam or not?

REVIEW:REGULATION:MIN. DEPOSIT:ASSETS:SPREADS:
3.3 out of 5 stars (3.3 / 5)VFSC250$500+3.0 Pips

At the moment FinmaxFX is a fast-growing brand for Forex and CFD Trading. The company starts to advertise its offers to traders. In this review, we will give you a deeper look into this CFD and forex broker.  In the next section, you will read about the conditions for traders and how it works to trade with this company. Is it really worth investing your money there? – Find it out in this review.

finmaxfx (finmaxfx) website

The best brokers for traders in our comparisons – get professional trading conditions with a regulated broker:

Broker:Review:Advantages:Free account:
1. Capital.com
5 out of 5 stars (5 / 5)
➔ Read the review
# Spreads from 0.0 pips
# No commissions
# Best platform for beginners
# No hidden fees
# More than 3,500+ markets
Live account from $ 20:

(Risk warning: 79% of retail CFD accounts lose money)

Which trading conditions are available for traders?

FinmaxFX offers trading with currencies, commodities, cryptocurrencies, stocks, metals, and indices on one platform. More than 500 different assets are available. There is the possibility to get a free demo account to practice or learn how to trade on the platform. For trading real money you have to deposit only 10$. The broker recommends depositing more than 250$ because they will not make any money from deposits under $ 250.

For trading the financial market maximum leverage of 1:200 is available. The spreads are variable and depend on the assets. From our experience, the spreads on some assets are lower than the spreads of other Forex Brokers but on some assets, the spreads are higher. In addition, the support is working 24/5 hours per week and you get access to webinars or account managers.

Sample assets of FinmaxFX
Sample assets of FinmaxFX

One advantage of the broker is the different account types for traders. If you deposit more than 250$ you get better support, education, and spreads. Also, withdrawals are without fees. In conclusion, FinmaxFX looks like a reliable broker for currency trading. They provide you the service which you need to trade successfully.

Facts about the conditions:

  • More than 500 different assets
  • Currencies, commodities, metals, stocks, indices, cryptocurrencies
  • 24/5 support in different languages
  • Minimum deposit 10$
  • Competitive spreads
  • Free demo account
  • MetaTrader 4 platform
  • MetaTrader 5 platform
  • Maximum leverage 1:200

Trade from 0.0 pips over 3,500 markets without commissions and professional platforms:

(Risk warning: 79% of retail CFD accounts lose money)

Test of the FinmaxFX trading platform

The trading platform is a trader’s most important tool. You have to get a correct and fast execution for your orders. Also, analysis and charting tools are necessary for successful making money in the financial markets. FinmaxFX offers the trading platform Metatrader 4/5 to get access to the markets. It is a worldwide well-known platform that is available to many brokers.

The platform can be used on any device. Mobile trading with the Metatrader app is possible. You only need one account for all devices. Choose the web browser, desktop, or smartphone. It is a freely customizable and user-friendly software for professional analysis. The most used form of analysis is technical analysis. In order to do that there is a huge range of indicators and drawing tools. Moreover, automatic trading is possible.

Trading software Metatrader
Trading software Metatrader

Facts of the Metatrader 4/5:

  • Available for any device and one universal account
  • One-click trading
  • Multi-charting
  • Userfriendly and customizable
  • Free technical tools for analysis

Professional charting and analysis

Most traders are using fundamental or technical analysis for making decisions for their trades and investments. For fundamental and technical analysis the Forex Broker FinmaxFX offers a good education center. The MetaTrader 4/5 is very popular for all types of technical analysis. You can do multi charting and implement indicators.

Traders can develop their own chartbooks (templates) and if you got some program skills it is possible to develop automatic programs. Each indicator is customizable and you can implement and download new ones. Beginners and advanced traders should feel comfortable with this trading software because it offers all the functions you need for trading.

In conclusion, Metatrader is one of the best platforms worldwide for forex and CFD trading. Not without reason, this software is offered by many companies. You get a full portfolio of tools and you can customize the chart as you want.

Facts about the charting and analysis:

  • Multi charting
  • Customizable tools
  • Free indicators
  • Automatic trading
  • Userfriendly for beginners and advanced traders
Metatrader order mask
Metatrader order mask

Trade from 0.0 pips over 3,500 markets without commissions and professional platforms:

(Risk warning: 79% of retail CFD accounts lose money)

How to trade with FinmaxFX?

In this section, we will show you how to start trading with the Finmax FX broker. The advantage of derivates and currency trading is that you can go long or short on the markets. You just have to know in which direction you want to trade. Beginners should try it in the demo account with virtual money.

First of all, you do a forecast of the future market movement.  Then you choose the position volume in the order mask (1 volume equals 100.000 units of the base currency). You should use the stop loss and take profit for proper risk management. These are automatic market limits that are closing your trade on a certain price level. In order to make a profit, the market has to move in your direction.

Step by step guide: 

  1. Make a forecast of the market movement
  2. Choose the order volume of the trade
  3. Set up a stop loss and take profit for managing your risk and profit
  4. Buy (long) or sell (short)

Open your a free trading account

The account opening process takes only a time of fewer than 5 minutes. You can start with your name, email, and phone number. After that, you get access to the account portal. FinmaxFX is a fully regulated Forex Broker so the company needs further information about your person before you can withdraw your profits.

Before you start trading with real money we recommend verifying your account in order to get no problems before you do your withdrawal. The full verification of the account is done in less than 2 days from our experience.

Free and unlimited demo account

In addition, FinmaxFx is offering a free and unlimited demo account. This is an account with virtual money. So new customers can test the platform by themselves. Furthermore, it is a good way to practice trading and develop new strategies. For example, advanced traders can explore new markets and assets.

Get a better account type for your deposit

It is possible to get a higher account type depending on your deposit. You will see a picture of it below. The more you trade, the higher the broker’s profit. So you get a better service and lower spreads with a higher account type. Also, it is possible to get a free bonus for trading and there are no withdrawal fees.

Account types
Account types

What do you get with a higher account type? 

  • More webinars
  • Lower spreads
  • Bonus
  • Account managers and analytics
  • Trading signals

The best brokers for traders in our comparisons – get professional trading conditions with a regulated broker:

Broker:Review:Advantages:Free account:
1. Capital.com
5 out of 5 stars (5 / 5)
➔ Read the review
# Spreads from 0.0 pips
# No commissions
# Best platform for beginners
# No hidden fees
# More than 3,500+ markets
Live account from $ 20:

(Risk warning: 79% of retail CFD accounts lose money)

Conclusion of the review: Is FinmaxFx legit?

In this review, we showed you the conditions for traders of FinmaxFX. It is an international forex dealer which accepts clients worldwide. You can trade more than 500 different assets on a reliable trading platform. The minimum deposit is very low and the broker got competitive spreads. In addition, you will get good support and education.

All in all, FinmaxFX is a legit online broker for trading the financial markets. It is a new company which will expand the offers for traders.

The advantages of FinmaxFX:

  • Regulated offshore broker
  • More than 500 assets
  • Good support (webinars, coaching)
  • Account types
  • Bonus program

FinmaxFX Review

Overview and test of FinmaxFX

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Summary

FinmaxFX is a reliable broker that offers more than 500 assets to choose from. Users are never let down as there are many webinars and coaching sessions. There is also a bonus program. Overall, definitely recommendable.

3.3

If you search for a reliable offshore forex broker then you should choose FinmaxFX 4 out of 5 stars (4 / 5)

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Trusted Broker Reviews

Experienced and professional traders since 2013

Trade from 0.0 pips over 3,500 markets without commissions and professional platforms:

(Risk warning: 79% of retail CFD accounts lose money)

FAQs – The most asked questions about FinmaxFX:

Is FinmaxFX a credible brokerage?

A competent brokerage provides an excellent experience to traders in various ways, like trading tools, payments and withdrawals, and client assistance. However, what’s really beneficial to one trader may not be beneficial to another. As a result, the phrase “good broker” can have different connotations. By analyzing the factors, one can determine whether FinmaxFX is an appropriate brokerage for you. Emails, online chats, calls, and digital forms are various methods of contacting customer support.

Is FinmaxFX a legally recognized broker?

It is one of the handfuls of multi-regulated brokerages. The VFSC is the primary regulatory body. Furthermore, this brokerage is licensed by the IFMRRC. As a result, traders may be confident that they will always be protected.

How can I make a withdrawal from FinmaxFX?

You should first prove identification by submitting the required documentation and residency papers. Credit cards, bank transfers, Perfect Money Yandex Money, Webmoney, OKpay, Skrill, Neteller, Qiwi, and Bitcoin withdrawals are all possible. The execution period for withdrawals can take up to 2 days, and there are costs associated with them.

Does FinmaxFX offer a free demo account?

Yes, the broker does provide its clients with a free demo account that can be utilized by both novice and experienced traders.

See other articles about online brokers:

Last Updated on January 27, 2023 by Arkady Müller